Reaching the American Dream is Harder of People of Color

*A good story, but here’s a better one: despite the obstacles, home-ownership rate in the Latino community is 46%; Latinos account for 36% of all new homeowners, by 2020 it is expected to be 50%. VL

By Steven W. Bender, New York times

Home ownership is a marker for many of attainment of the American Dream. With the primacy of family well being at its core, Latinos are especially motivated to become homeowners – a 202 study found 90 percent of Latino homeowners strongly agreed that  owning a home is better than renting for raising a family. Yet the blueprint of of abusive home loans targeting Latino and black borrowers and prompting the recent mortgage foreclosures crisis exposes daunting challenges to the allure and reality of the America Dream.

A 2007 case of a hard-working Mexican immigrant couple in Oregon shows how difficult it is to have the modest home and white picket fence.

Click HERE to read the full story.